Monopolistic Competition
3 years ago
Microeconomics
Monopolistic competition – Market in which firms can enter freely, each producing its own brand or version of a differentiated product.
Oligopoly – Market in which only a few firms compete with one another, and entry by new firms is impeded.
Cartel – Market in which some or all firms explicitly collude, coordinating prices and output levels to maximize joint profits.

Bijay Satyal
Dec 1, 2021